VRT World Enters Partnership with Bancor

VRT World (VR Technologies), a Singapore-registered company focused on virtual reality (VR), has entered a partnership agreement with The Bancor Network, a decentralized liquidity network for holding and converting digital tokens.

“This is an important deal for VRT World as Bancor allows holders of any tokens to convert them to any other token on the network, with no counter party and at an automatically calculated price,” says Konstantin Negachev, CEO of VRT World. “Now that VRT World tokens are available on Bankor, existing and potential holders of VRT World will have more options.”

From December 5, 2017 to January 5, 2018, VRT World ran a successful token sale, raising $721,000 with 294 contributors from 21 countries. The total funding exceeded $1 mln, including $350,000 raised in a limited token pre-sale to a group of private investors in September 2017.

From 14th of March till 30th of May the VRT World project presents public sale for all participants who are interested in VR technologies, IT and blockchain technology.

The tokens are issued in conformance with the ERC20 standard. All purchased tokens will be transferred to users’ wallets in Ethereum blockchain with closed balance in smart contract.

30% of the proceeds are to be used for creation and promotion of the company’s virtual reality parks, 25% to be spent on creation of the platform, SDK and upgrading technology, 18% and 15% to be allocated for content creation and marketing activity, respectively

An alpha version of VRT World Marketplace, in which easy-to-use SDK (Software Development Kit) and API (Application Programming Interface) facilitate VR content creation without restricting developers to a single company or type of device, is already live.

VRT World runs a blockchain-based VR platform, offering content creators, media buyers, developers, storage and service providers and advertisers a comprehensive set of tools that enable them to generate, test and distribute content and ideas, as well as engage in all forms of collaboration.

VRT World’s utility token acts as a “fuel source” for the entire platform, being a unique payment method for all transactions, such as purchase, sale and rental of VR content, as well as various services.

The company also runs VR Park in Moscow, an “offline gateway” into the marketplace, which allow outside developers to sell their content without purchasing costly equipment, and prepares to open another one in Dubai.

VRT World also sold a franchise for VR Parks to the European Union, and 30 parks are to be open under the agreement within the next 18 months.

To receive the company’s news and updates, subscribe to VRT World’s Telegram group at @vrtico

About VRT World

VRT World is developing a decentralized global platform for virtual reality, which aims to bring together developers, consumers, and investors in the VR sector from all across the globe. The company is run by an experienced team with a substantial track record in VR and broader digital technologies. The company has offices in Moscow and Singapore.

About Bancor

Launched in June 2017, The Bancor Network allows any tokens available on the network to be converted to each other or to the Bancor Network Token (BNT) at a rate calculated by the Bancor Formula. The network uses the Bancor Protocol, a new standard for cryptocurrencies called Smart Tokens™, which are autonomously and continuously convertible to other tokens in the network at algorithmically calculated rates.